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Suppose you have been appointed as Global Manager of a company that has 2-plants, one in the US and one in Mexico. Suppose, you cannot change the size of the plants or the amount of capital equipment. The wage in Mexico is $5. The wage in the U.S. is $20. Given current employment, the marginal product of the last worker in Mexico is 100, and the marginal product of the last worker in the U.S. is 500.
Is the firm maximizing output relative to its labor cost? Yes or No. Show how you know. If it is not, what should the firm do?
Carry out an analysis from the standpoint of both EMV and expected utility to establish Jeremiah’s best course of action, including a consideration of his bidding strategy with regard to the auction.
Price comparison services on the Internet are a popular way for retailers to promote their products and a convenient way for customers to simultaneously obtain price quotes from many firms setting I identical product.
Assume the production function is given by Q = 4K + 8L. Determine the average product of capital when 10 units of capital and 5 units of labor are employed?
Say there is a natural disaster which wipes out all of tomato plantation of one country. so there is a drastic increase in the price say from $6 to $15 a kilo
Define and explain the terms decision management and decision control. Under what situations might it be optimal to make one individual responsible for both decision management and decision control?
Assume that the current market rate of interest is 10%. The market rent on a parcel of land is $6,000 per year. A 10% land tax is imposed. As a result of the tax,
As the manager of exploration for Chieftain Oil & Gas, you are assessing a new offshore oil recovery method that will recover oil and gas deep in the Gulf of Mexico.
After a 10 percent price discount, a company found that its weekly sales increased by 30 percent. If the marginal cost (MC) of this product is $40 each, determine the optimal price for this product?
Dominant price leadership exists when one company drives others out of the market. The dominant company decides how much each of its competitors can sell.
How could you assess which of the top 3-companies in an industry was best managed from a financial standpoint?
Post a memo to explain the factors that contribute to the elasticity of goods. Also incorporate a real-life example of price elasticity of demand, and discuss how it impacts the economy.
Market Structure and Pricing Decision Applied Problems, BUS 640 Managerial Economic,
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